DASTY - Schrodinger Starts U.S. IPO Effort With $100 Million Filing
Quick Take
Schrödinger (SDGR) has filed to raise $100 million in an IPO of its common stock, according to an S-1 registration statement.
The firm sells drug and compound discovery software to biopharmaceutical firms and other research organizations worldwide.
SDGR is growing revenue but also producing increasing operating losses.
Company & Technology
New York, NY-based Schrödinger was founded to assist drug development companies and researchers in discovering novel molecules more quickly and at lower cost through all phases of the research process.
Management is headed by Chief Executive Officer Ramy Farid, Ph.D.,